The joint venture, majority-owned by CG, plans to invest Rs 7,600 crores over five years, with funding sourced from subsidies, equity, and potential bank borrowings.
In a significant development for India’s semiconductor industry, CG Power and Industrial Solutions Limited (CG), Renesas Electronics Corporation (Renesas), and Stars Microelectronics (Thailand) Public Co. Ltd (Stars Microelectronics) have joined forces to establish an Outsourced Semiconductor Assembly and Test (OSAT) facility in the country. This collaboration, facilitated by a Joint Venture Agreement (JVA), aims to bolster India’s semiconductor capabilities and ecosystem, in line with the country’s “Make in India for the World” vision.
CG, a prominent manufacturing entity with decades of experience, will leverage its expertise to drive semiconductor manufacturing in India. Renesas, a leading semiconductor company headquartered in Japan, will contribute advanced semiconductor technology and expertise to the venture. Stars Microelectronics, a renowned OSAT provider based in Thailand, will offer technology for legacy packages and provide training and enablement.
The joint venture, majority-owned by CG, plans to invest Rs 7,600 crores over five years, with funding sourced from subsidies, equity, and potential bank borrowings.
The state-of-the-art manufacturing facility, located in Sanand, Gujarat, will have a production capacity ramping up to 15 million units per day. It will manufacture a diverse range of products, catering to industries such as automotive, consumer electronics, industrial applications, and 5G technology
Also read
Govt approves three semiconductor plants; Investment pegged at Rs 1.26 lakh crore
Domestic manufacturing of semiconductors is the next big space: MeitY Secy: PTI
